It’s understood that ITV had a preemptive right to explore an acquisition of All3Media, since both companies have a joint shareholder in Liberty Global . Sources indicate a deal wasn’t just likely, it was almost across the finish line. Some executives at the company were even calculating their redundancy packages due to the overlap between ITV and All3Media’s assets, particularly on the unscripted side.
Citing the London Stock Exchange messaging, ITV CEO Carolyn McCall made it clear in a half-year earnings call on July 27 that the company was “no longer actively exploring” an acquisition, but that it had looked at All3Media with “great interest.”“ITV was the only possible buyer for All3Media. Now that they’ve [pulled out], the sales process is going to start in September,” said one senior source with inside knowledge of the sale, who confirmed that All3Media’s price tag is in the €1.
A bid is expected to come from French company Mediawan, which is interested in building a larger presence in English-language markets and accessing a wealth of premium content. All3Media’s U.K.-based scripted assets include Sam Mendes and Pippa Harris’ “Call the Midwife” and “1917” producer Neal Street Productions; “The Tourist” and “Fleabag” outfit Two Brothers Pictures; and “White House Farm” producer New Pictures. Mediawan, which already boasts Drama Republic in the U.K.
Evidently, Bassetti thinks the risk is worth it: in the last year alone, Banijay acquired “Chloe” producer Mam Tor Productions, took a minority stake in “Happy Valley” star James Norton’s production banner Rabbit Track, and invested in Conker Pictures, the new company set up by BBC commissioner Tommy Bulfin and Apple TV+ drama executive Kim Varvell.